Canadians are falling behind on bills, and it gets worse as they assume more debt. Statistics Canada (Stat Can) released new data from their Survey of Financial Security this week. The data shows a significant number of households fell behind on their debt payments. The most interesting trend revealed is more debt relative to assets, […]
Canadians are getting comfortable with debt levels, as household credit growth made a slight acceleration. Bank of Canada (BoC) numbers show the balance of household debt printed a new record in April. The new record high came with minor acceleration of the annual pace of growth for both mortgage and consumer credit. Canadians Had $2.18 […]
Canadian bank regulators are getting ready for you to hit your breaking point. Office of the Superintendent of Financial Institutions (OSFI) announced it is raising the domestic stability buffers. The increase goes into effect this fall, just a few months after being hiked this past spring. An increase in the buffer provides further protection to […]
Canadian households are facing higher borrowing rates, but they’re coming down. Bank of Canada (BoC) numbers show the effective household borrowing rate was higher than last year, as of April 27. Over the past few weeks however, rates have been on a fast slide since peaking in March. Effective Household Borrowing Rate The effective household […]
Canadians still aren’t returning to the real estate market, and it’s hitting mortgages. Canadian Bankers Association (CBA) numbers show November had fewer mortgages than the year before. The decline represents the fourth month the market has seen negative prints. Prior to this, the number of mortgages hadn’t dropped on an annual basis in over 29 […]
Fresh off an epic credit binge, households in Canada are starting to shy away from more debt. Bank of Canada (BOC) numbers show household debt levels barely moved in February. Not only did debt barely move from the month before, but the annual pace of growth fell to levels not seen since 1983. Canadian Households […]
The Great Canadian real estate binge may be giving a few owners indigestion. Statistics Canada (StatCan) numbers show interest on mortgage debt reached a new high in Q4 2018. The spike is due to interest payments rising almost ten times faster than the pace of principal payments. Canadian Real Estate Owners Paid Over $9.8 Billion […]
Canadian mortgage growth continues to underwhelm. Bank of Canada (BoC) numbers show outstanding residential mortgage credit hit a new record high in January. The record was dwarfed by the slowest annual pace of growth for a January in over three decades. Canadians Owe Over $1.5 Trillion In Residential Mortgage Credit The outstanding balance of mortgage […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver Real Estate See Mortgage Delinquencies Start To Climb Mortgage delinquencies in Toronto and Vancouver are off an of all-time low, especially on larger loans. Delinquencies on mortgages over $400,000 at origination in Toronto CMA increased 28.75% from […]
Toronto and Vancouver real estate is seeing default rates climb from recent lows. Canada Mortgage and Housing Corporation (CMHC) numbers show the ratio of delinquencies is climbing in both cities as of Q3 2018. The increase is most notable for the largest mortgages, a potential sign that reduced liquidity is making an impact. Mortgage Delinquencies […]
